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“Yay” for Basic Income Plan, “Nay” for Farm Loan Waivers: ADB Bank
January 14, 2019
This Friday, Asian Development Bank (ADB) supported the Indian government’s efforts towards the implementation of Universal Basic Income (UBI). However, it raised concerns for the farm loan waivers that the government has been offering without due consideration in different states for quite some time now.
Kenichi Yokoyama, ADB Country Director said that although India has a system in place to provide Direct Benefit Transfer (DBT) with the help of Aadhaar, it needs to find a way to implement UBI in an efficient manner. On the topic of farm loan waivers, he said that the measure is ineffective and goes against the economic principles.
Photo credit: Asian Development Bank President on VisualHunt / CC BY-ND
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